Unit 1 Basics of Economics

Which factor of production would a car be?

The benefit or satisfaction one receives from the use of a good is called:

If a really good song is played too often, what happens?

You will continue using a good as long as:

The value of the next best option in a decision is called:

What determines the value of a good?

What is the opportunity cost of you getting out of bed this morning?

I think College expenses should be paid by the government

Identify the graph below

What is the opportunity cost of going from 0 to 6 Wheat?

Which of the following is NOT an assumption of a PPC?

The study of the economy the way things are is called:

Which country has absolute advantage in Sugar?

If you start your own business, what factor of production is that?

what factor of production is a college education?

What is the economic definition of scarcity?

The way a society allocates its resources to satisfy people's wants is called:

Cotton is an example of what factor of production?

What is economics the study of?

Who has the comparative advantage in Sugar?

What is the basic economic problem?

what factor of production is you working at Subway?

What is the purpose of a PPC?